TGS Q3 2024 Operational Update OSLO, Norway (8 October 2024) – TGS, a leading global provider of energy data and intelligence routinely publishes a quarterly operational update six working days after quarter-end. The table below shows TGS’s normalized Ocean Bottom Node (OBN) crew count: 2022 2023 2024Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Normalized crewcount1 2.9 3.2 3.2 2.3 2.6 3.2 3.2 1.9 1.9 2.7 3.8 1) The table shows average number of crews in operation when assuming a normalized crew size. In Q3 2024 all crews were used for contract work. If crews are used for multi-client in the future...
With total capex set to be flattish through this decade (organic capex lower in the out-years), TotalEnergies’ Strategy & Outlook presentation provided limited excitement for oil services. Strong capital discipline and allocation was maintained, with targeted oil production growth (3%) on flattish capex and shareholder returns being a top priority. With several large-scale developments for the next few years already defined (oil services mostly contracted), we consider its plan supportive for cy...
TGS Secures 4D Streamer Contract in Southern Atlantic OSLO, Norway (3 October 2024) – TGS, a leading provider of energy data and intelligence, is pleased to announce award of a baseline 4D streamer contract in the Southern Atlantic region with an independent energy company. The contract spans approximately 90 days. The award of this program reinforces TGS’ strategic position in the Southern Atlantic, underscoring its ongoing commitment to providing the highest quality data solutions to clients. Leveraging the advanced Ramform acquisition platform, coupled with the proprietary multi-sensor ...
Based on our vessel tracker, we expect TGS to report 72% active vessel utilisation for Q3, which is up QOQ but meaningfully lower YOY and representing pandemic-low levels for what is usually the seasonally strongest quarter of the year. We also note that offshore wind-related work represents ~20% of active vessel days, where the vessel EBITDA contribution typically is lower than for traditional oil and gas seismic.
TGS ASA is assigned Ba3 rating from Moody’s OSLO, Norway (27 September 2024) – TGS ASA, a leading provider of energy data and intelligence is assigned Ba3 rating with a stable outlook from Moody’s. The USD 450 million backed senior secured notes (originally issued by Petroleum Geo-Services AS, a fully owned subsidiary of TGS) are upgraded two notches from B2 to Ba3 with a stable outlook. Moody’s press release announcing the rating action is available on their home page /. For more information, visit TGS.com or contact: Bård StenbergIR & Communication Mobile: About TGSTGS provides...
TGS Presentation at Pareto Securities Energy Conference 2024 The TGS presentation for the Pareto Securities Energy Conference can be downloaded at or CEO Kristian Johansen will present today at 12:10 CEST at the conference. For more information, visit TGS.com or contact: Bård Stenberg VP IR & Communication Mobile: Attachment
TGS Vesting Under the 2021 Long-term Incentive Plan Oslo, Norway (10 September 2024) – Reference is made to the stock exchange announcement on 12 August 2024 published by TGS regarding vesting of Performance Stock Units (PSUs) and Restricted Stock Units (RSUs). As a consequence of the vesting as announced on 12 August 2024, TGS has now issued 127,527 shares. The vesting of PSUs and RSUs granted by TGS in 2021 in accordance with the terms of the 2021 Long Term Incentive Plan resulted in the right for a total of 71 participants to request the issuance of an aggregate of up to 159,460 shar...
TGS: MANDATORY NOTIFICATION OF TRADES Oslo, Norway (9 September 2024) – In February 2019, TGS implemented an Employee Share Purchase Plan (ESPP) pursuant to which eligible employees can purchase TGS common shares at a discount through payroll deductions. The ESPP operates in six-month periods, and at the end of each period, employees in eligible jurisdictions (United States, United Kingdom and Canada) have the option to purchase stock at a 15% discount to the market price at the time of purchase. The plan sets a maximum purchase of shares per employee per six-month period and ESPP dividend...
At the 15th edition of our Corporate Conference, hosted jointly by ODDO BHF and Commerzbank, the presenting corporates were still focused on the macroeconomic environment and the related impact on their sectors. Regionally, the US remains resilient at good levels, while China and Europe are lagging behind. Germany in particular is seen as sluggish. Hence, we observed a mixed picture across the 89 companies presenting at our conference. We were positively surprised by statements from a...
At the 15th edition of our Corporate Conference, hosted jointly by ODDO BHF and Commerzbank, the presenting corporates were still focused on the macroeconomic environment and the related impact on their sectors. Regionally, the US remains resilient at good levels, while China and Europe are lagging behind. Germany in particular is seen as sluggish. Hence, we observed a mixed picture across the 89 companies presenting at our conference. We were positively surprised by statements from a...
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